Caterpillar Inc. $CAT Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management cut its Caterpillar stake by 12.1% in the fourth quarter, selling 1,829 shares and leaving it with 13,334 shares worth about $7.64 million.
• Insider selling has been notable, with CFO Andrew R. J. Bonfield and insider Denise C. Johnson both selling shares recently; insiders sold 95,773 shares worth about $87.6 million over the last 90 days.
• Caterpillar posted strong fundamentals and raised its dividend, beating Q1 earnings and revenue estimates, lifting quarterly revenue 22.2% year over year, and increasing its dividend 8% to $1.63 per share.

Hodges Capital Management Inc. lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 12.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,334 shares of the industrial products company's stock after selling 1,829 shares during the period. Hodges Capital Management Inc.'s holdings in Caterpillar were worth $7,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Caterpillar by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company's stock worth $26,572,681,000 after buying an additional 442,164 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Caterpillar by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company's stock worth $6,072,572,000 after buying an additional 94,524 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Caterpillar by 0.6% during the 4th quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company's stock worth $5,438,408,000 after buying an additional 54,069 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Caterpillar by 3,949.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company's stock worth $2,494,568,000 after purchasing an additional 5,098,964 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Caterpillar by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 2,802,068 shares of the industrial products company's stock worth $1,337,007,000 after purchasing an additional 58,993 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the sale, the chief financial officer directly owned 52,935 shares in the company, valued at $48,631,913.85. This represents a 22.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Denise C. Johnson sold 12,605 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the sale, the insider owned 49,825 shares in the company, valued at approximately $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,773 shares of company stock worth $87,642,635 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar’s board approved an 8% dividend increase to $1.63 per share, reinforcing management’s confidence in cash flow and its commitment to returning capital to shareholders. Caterpillar Inc. Increases Dividend
• Positive Sentiment: Several articles highlighted Caterpillar as a momentum and growth stock to watch, with Zacks upgrading it to “strong-buy” and noting earnings growth, price strength, and continued interest tied to AI data center infrastructure demand. Earnings Growth & Price Strength Make Caterpillar (CAT) a Stock to Watch
• Positive Sentiment: Recent coverage also pointed to strong Q1 2026 volume growth, with total sales up 22% and demand improving across Construction and Power & Energy, supporting the bull case for continued earnings momentum. CAT Volumes Gain Strength Across Segments in Q126: More Upside Ahead?
• Neutral Sentiment: Technical and market commentary said CAT remains above its 50-day moving average and is still near key levels after a powerful multi-month rally, suggesting the stock may be consolidating rather than breaking down on company-specific news. Caterpillar Holds Key Level After Plowing Into Data Center Market
• Negative Sentiment: One note said Caterpillar has surged sharply over the past year and may be stretched on valuation, raising the risk of near-term pullbacks if investors lock in gains. Is It Too Late To Consider Caterpillar (CAT) After Its 158% One-Year Surge?
• Negative Sentiment: The biggest near-term headwind is the broad market move: CAT was one of the Dow’s weak spots during a major selloff, which likely amplified today’s decline despite otherwise favorable company-specific news. Dow's 663-point drop led by losses for shares of Caterpillar, Honeywell

Analyst Ratings Changes

CAT has been the subject of a number of research analyst reports. Argus increased their price objective on shares of Caterpillar from $820.00 to $990.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Jefferies Financial Group increased their price objective on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. HSBC increased their price objective on shares of Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Barclays increased their price objective on shares of Caterpillar from $700.00 to $800.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average price target of $933.27.

Caterpillar Price Performance

Caterpillar stock opened at $856.74 on Thursday. The firm has a market cap of $394.61 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. Caterpillar Inc. has a 52-week low of $355.70 and a 52-week high of $946.83. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company's 50 day moving average is $844.44 and its two-hundred day moving average is $722.90.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. The company had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.25 EPS. On average, research analysts expect that Caterpillar Inc. will post 24.68 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be issued a dividend of $1.63 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. Caterpillar's dividend payout ratio (DPR) is currently 30.06%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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